Key Takeaways
- GME shares surged by as much as 13% during after-hours trading Monday following mysterious posts on Roaring Kitty’s social media account, only to reverse course when the content was removed.
- Chewy shares experienced a similar pattern, climbing up to 3% before losing momentum.
- Market watchers are buzzing about a potential GameStop–eBay combination after Ryan Cohen deleted GameStop from his social media profile while eBay surfaced on GME’s investor relations site.
- An SEC filing revealed GameStop’s plan to expand authorized Class A shares from 1 billion to 2.5 billion, signaling potential acquisition plans.
- Reports indicate GameStop has put forward a bid to acquire eBay for approximately $56 billion, with Cohen promising $2 billion in yearly cost reductions.
GameStop shares experienced dramatic volatility during Monday’s after-hours session, sparked by fleeting activity on Keith Gill’s social media account—the investor widely recognized as Roaring Kitty.
Shares rallied by as much as 13% before completely reversing direction and declining. The turnaround occurred after the posts—one featuring a cat image, another displaying Pepe the Frog donning Roaring Kitty’s iconic red bandanna—disappeared around 5:40 p.m. Eastern time, within an hour of their initial appearance.
Chewy shares mirrored this behavior, advancing as much as 3% before surrendering all gains. GameStop CEO Ryan Cohen originally founded Chewy.
This represents yet another instance where Gill’s social media activity has influenced market behavior. A mysterious post in late 2024 propelled GameStop higher and prompted a trading halt due to volatility. AMC Entertainment similarly experienced gains during that event.
eBay Acquisition Rumors Intensify
The after-hours volatility occurred amid growing chatter about a possible GameStop–eBay combination.
Market observers detected that Cohen had scrubbed GameStop from his social media biography. Coincidentally, eBay materialized on GameStop’s investor relations webpage. Neither organization has officially acknowledged merger negotiations.
The investor relations page modification points to regulatory documents concerning GameStop’s offer to purchase eBay for approximately $56 billion. Should this materialize, it would rank among the most ambitious acquisition attempts by a company with GameStop’s market capitalization.
Cohen’s proposal highlights $2 billion in annual expense reductions within twelve months of deal completion, with Cohen positioned to lead the merged entity.
Stock Authorization Increase Raises Eyebrows
Also Monday, GameStop submitted documentation to the SEC requesting authorization to expand its Class A shares from 1 billion to 2.5 billion. The filing states this expansion would facilitate acquisitions, capital raising, and corporate transformation initiatives.
Following the eBay proposal announcement, Cohen has openly challenged eBay’s financial results, emphasizing declining operating profitability and escalating expenses.
Skepticism exists among some investors. Michael Burry—famous for his “Big Short” position—has liquidated his GameStop holdings, sparking concerns about the company’s expanding debt obligations.
Anthony Pompliano, CEO of Professional Capital Management, announced via X that he’s scheduled to interview Cohen on Tuesday.
Year-to-date in 2026, eBay shares have climbed over 24%. GameStop stock has appreciated more than 15%.
